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Search Results 0 to 13 of about 14 (some duplicates have been removed)
.b.r." >> susie: the fiscal cliff talks are going nowhere. that's the word from john boehner today. the house speaker characterized the negotiations to avoid huge tax increases and spending cuts at a stalemate. the race to solve the fiscal cliff triggered another round of dramatic sound bites from republicans and president obama. darren gersh has the latest. >> reporter: the president is still pushing to wrap up a deal on the fiscal cliff before christmas and just in case anyone missed that point, he visited a toy factory to urge congress to avoid raising taxes on the middle class. >> that's sort of like the lump of coal you get for christmas. that's a scrooge christmas. a typical middle-class family of four would see their income taxes go up by about $2,200. >> reporter: t psidents oposg to raise taxesy $1.6 trillion, while cutting spending by $400 billion. on top of that, mr. obama asked for $50 billion more for infrastructure spending and $140 billion to extend unemployment insurance benefits and the payroll tax cut. republicans literally laughed it off. >> they want... they want to have t
if the fiscal cliff talks goes down what impact will that go on consumer spending. >> if our tax go up and our expenses go up, then we have less discretionary income and 70% of the u.s. economy is driven by the consumers, by us. so that is really important that we absolutely focus on economic growth and don't penalize the consumers going forward. >> so you're saying it would have an impact on your business? >> i think it absolutely would because if our discretionary income is going to be less and we're paying more tax we will have less discretionary income for things like everything. including aublings. >> so what kind of contingency plan is ford making in case we do go over the cliff? >> well, our plan has always been to match our production to the real demand. and we have a very flexible manufacturing system. so you know, if we didn't get this solved and we didn't have as many sales, we would lower our production to meet that real demand like we have in the past. >> looking to the new year, the business environment, consumer sentiment, how are things shaping up for ford? >> well, right now i
fitch calls the fiscal cliff the biggest concern for state credit in 2013. saying, "any meaningful federal deficit reduction is likely to lower state funding, forcing program elimination or backfilling." as the tax hikes and spending cuts approach, u.s. manufacturers saw business shrink last month. the institute of supply management's purchasing managers index fell unexpectedly to 49.5, down from 51.7 in october. a reading below 50 means business has fallen back into contraction. the november statistic is the lowest since july 2009. the dow fell 60, the nasdaq down eight, the s&p 500 lost six. >> susie: jeff saut says investors seem to be ignoring bad news, and this is a bullish sign. he's managing director and chief investment strategist at raymond james. so jeff, not only are you bullish but you're also calling for a pretty decent santa claus rally. tell us why? >> well, i have learned over the 42 years in this business, susie, that it's pretty tough to put stocks to the downside in the ebullient month of december. i mean it's happened but it's a pretty rare event it just seems t
in virginia, the president once again pressed for congress to avoid the fiscal cliff. >> if this family has a couple of thousand dollars less to spend, that translates into $200 billion of less consumer spending next year. and that's bad for businesses, large and small. >> reporter: behind the scenes, the two sides are talking again. but there was no progress in public. senators today fought over the debt limit, and ended up deadlocked over a bill to allow the president to automatically increase borrowing. >> he's shown what he is really after is unprecedented powers to spend taxpayer dollars without any limit at all. >> reporter: if the debt limit isn't raised, the country can't pay for the spending congress has already approved. and economists say the nation pays a high price for this kind of brinksmanship. >> business people aren't going to engage unless they have clarity with respect to this thing. >> reporter: but few insiders expect to find much clarity from washington in the coming weeks. darren gersh, nbr, washington. >> susie: investors will be searching for more clarity on those f
today to persuade president obama and congress to avoid the fiscal cliff. with just 33 days left to nail down a deal, c.e.o.s made the rounds to explain to lawmakers that because of cliff gridlock, they're holding back on hiring and spending. as darren gersh reports, c.e.o.s weren't the only ones campaigning hard today. >> reporter: the president and republicans focused today on staging events designed to pressure the other side. the president called on americans to tweet, facebook and call members of congress to tell them to pass tax cuts for everyone making less that $250,000 a year. >> 97% of small businesses would not see their income tax go up by a single dime. even the wealthiest americans would still get a tax cut on the first $250,000 of their income. >> reporter: the speaker dismissed a call from a fellow republican to give the president what he wants, saying it's not good economics to raise tax rates on small businesses. >> going over the fiscal cliff will hurt our economy and hurt job creation in our country. this is not good for our country. it's as simple as that, and the pr
Search Results 0 to 13 of about 14 (some duplicates have been removed)